기업지배구조에 따른 관리통제시스템의 이용과 기업성과

This study examines the relationship between corporate governance structures(CGS), management control systems(MCS), and firm performance at the korean firm levels. This paper tests whether corporate governance influences the degree of firm's diagnostic use of MCS and interactive use of MCS and its potential impact on firm performance. We expect that sound CGS induce high degree of use of MCS and that firm performance is better for firm with higher degree of use of MCS. We analyze the structural equation model using partial least squares to test hypotheses of this paper and find the result as follows. First, result shows that the firm with active board of directors is associated with a higher diagnostic and interactive use of MCS. Second, the result provides support for the positive influence of audit committee on diagnostic use of MCS. Third, the finding suggests that the firm with protect systems for shareholders' right is associated with a higher diagnostic and interactive use of MCS. Forth, good CGS through improved information environment increase the use of diagnostic use of MCS. Fifth, We provide evidence that firm with higher use of MCS through CGS is effective in improving the organization commitment, so increasing firm performance. We expect that the finding of this study would provide the opportunity to lay emphasis on CGS and MCS and imply that MCS is one channel through which good corporate governance translates into higher firm value.